Sandisk (SNDK) has risen more than 350% this year as the memory shortage opened major opportunities for the company, which was spun out from Western Digital. The company announced an 8-for-1 stock split, with split-adjusted trading beginning Nov. 20. The article argues a split does not fundamentally change the business, since an investor's position keeps the same value right after the split, and the stock may rise or fall afterward. The bigger factor is how long the memory and storage shortage lasts. Sandisk's price-to-earnings multiple is in single digits due to exceptionally strong recent quarters, and if that changes, the stock would become much more expensive.
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